V.I.N.: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
V.I.N.
Largest movements
- Cash +€51,951
up €51,951 (+170.4%), from €30,492 to €82,442
mainly Net result for the year (+€51,435) and Depreciation (+€23,487)
- Receivables within one year -€10,164
down €10,164 (-5.7%), from €178,928 to €168,764
of which Trade receivables: -€8,663
- Tangible fixed assets -€9,999
down €9,999 (-21.5%), from €46,473 to €36,473
of which Plant, machinery and equipment: -€9,387
- Deferred charges and accrued income -€9,127
down €9,127 (-53.0%), from €17,233 to €8,106
- Trade debts +€20,049
up €20,049 (+267.2%), from €7,503 to €27,552
- Reserves +€11,435
up €11,435 (+2.0%), from €584,693 to €596,129
of which Distributable reserves: +€11,435
- Staff costs -€46,585
down €46,585 (-36.2%), from €128,838 to €82,253
- Gross operating margin -€29,546
down €29,546 (-14.5%), from €204,472 to €174,926
- Taxes -€2,463
down €2,463 (-28.2%), from €8,742 to €6,280
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €764,422 | €787,082 | +€22,660 | +3.0% |
| Fixed assets | 21/28 | €46,473 | €36,473 | -€9,999 | -21.5% |
| Tangible fixed assets | 22/27 | €46,473 | €36,473 | -€9,999 | -21.5% |
| Plant, machinery and equipment | 23 | €31,285 | €21,899 | -€9,387 | -30.0% |
| Furniture and vehicles | 24 | €1,718 | €1,557 | -€161 | -9.4% |
| Other tangible fixed assets | 26 | €13,469 | €13,018 | -€452 | -3.4% |
| Current assets | 29/58 | €717,949 | €750,609 | +€32,659 | +4.5% |
| Stocks and contracts in progress | 3 | €491,297 | €491,297 | = | 0.0% |
| Stocks | 30/36 | €491,297 | €491,297 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €178,928 | €168,764 | -€10,164 | -5.7% |
| Trade receivables | 40 | €151,372 | €142,709 | -€8,663 | -5.7% |
| Other amounts receivable | 41 | €27,556 | €26,055 | -€1,501 | -5.4% |
| Cash at bank and in hand | 54/58 | €30,492 | €82,442 | +€51,951 | +170.4% |
| Deferred charges and accrued income | 490/1 | €17,233 | €8,106 | -€9,127 | -53.0% |
| Total equity and liabilities | 10/49 | €764,422 | €787,082 | +€22,660 | +3.0% |
| Equity | 10/15 | €646,693 | €658,129 | +€11,435 | +1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €584,693 | €596,129 | +€11,435 | +2.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,612 | €42,612 | = | 0.0% |
| Distributable reserves | 133 | €535,881 | €547,317 | +€11,435 | +2.1% |
| Amounts payable | 17/49 | €117,728 | €128,953 | +€11,225 | +9.5% |
| Amounts payable within one year | 42/48 | €112,515 | €124,334 | +€11,818 | +10.5% |
| Trade debts | 44 | €7,503 | €27,552 | +€20,049 | +267.2% |
| Suppliers | 440/4 | €7,503 | €27,552 | +€20,049 | +267.2% |
| Taxes, remuneration and social security | 45 | €10,012 | €6,782 | -€3,231 | -32.3% |
| Taxes | 450/3 | €3,465 | - | -€3,465 | |
| Remuneration and social security | 454/9 | €6,547 | €6,782 | +€234 | +3.6% |
| Other amounts payable | 47/48 | €95,000 | €90,000 | -€5,000 | -5.3% |
| Accrued charges and deferred income | 492/3 | €5,213 | €4,619 | -€594 | -11.4% |
| Remuneration, social security and pensions | 62 | €128,838 | €82,253 | -€46,585 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,827 | €23,487 | +€659 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €83 | +€83 | |
| Other operating charges | 640/8 | €6,179 | €7,169 | +€990 | +16.0% |
| Gross operating margin | 9900 | €204,472 | €174,926 | -€29,546 | -14.5% |
| Operating profit (loss) | 9901 | €46,627 | €61,934 | +€15,307 | +32.8% |
| Financial income | 75/76B | €3,504 | €3,106 | -€398 | -11.4% |
| Recurring financial income | 75 | €3,504 | €3,106 | -€398 | -11.4% |
| Financial charges | 65/66B | €7,456 | €7,325 | -€131 | -1.8% |
| Recurring financial charges | 65 | €7,456 | €7,325 | -€131 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €42,676 | €57,715 | +€15,039 | +35.2% |
| Income taxes | 67/77 | €8,742 | €6,280 | -€2,463 | -28.2% |
| Profit (loss) for the period | 9904 | €33,934 | €51,435 | +€17,501 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,934 | €51,435 | +€17,501 | +51.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.